Exhibit 99.1
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| | 21700 Barton Road
P.O. Box 150
Colton, California 92324 | | Contact:
Phil Smith
Stater Bros. Holdings Inc.
(909) 783-5287 |
P R E S S R E L E A S E
For Immediate Release
Tuesday, February 8, 2005
STATER BROS. HOLDINGS ANNOUNCES FIRST QUARTER RESULTS
Colton, California. February 8, 2005; Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the first quarter of fiscal 2005 ended December 26, 2004.
Sales for the thirteen week first quarter ended December 26, 2004, understandably decreased 18.3% to $839.1 million compared to $1.027 billion for the thirteen weeks ended December 28, 2003. Results for the period ended December 28, 2003 included increased sales due to the Southern California grocery labor dispute. Like store sales decreased 22.2% for the thirteen weeks ended December 26, 2004 compared to the thirteen weeks ended December 28, 2003.
The Company reported net income for the thirteen week first quarter ended December 26, 2004 of $3.4 million compared to net income of $34.6 million for the thirteen week first quarter ended December 28, 2003. Prior year results benefited from the labor dispute in Southern California.
Brown said; “The decline in sales in the current year is due to the high sales level in the prior year during the Southern California grocery labor dispute. While the sales have declined we are pleased with the amount of new customers we have been able to retain. This year’s results reflect our Stater Bros. Family post-strike retention efforts to retain many of our new “Valued Customers” providing excellent service and value. We are determined to maintain the existing level of new customers the Stater Bros. Family obtained during the labor dispute. We remain committed to providing a friendly and satisfying shopping experience to all our “Valued Customers” on every one of their visits to our stores.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in Southern California and operates 160 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.
For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 783-5000.
Stater Bros. Markets currently operates 160 Full Service Supermarket locations, with 47 in San Bernardino County, 44 in Riverside County, 30 in Orange County, 27 in Los Angeles County, 10 in Northern San Diego County, and 2 in Kern County. There are over 16,000 members of the Stater Bros. “Family” of Employees. Headquartered in Colton, California, Stater Bros. has been serving Southern California customers since 1936.
STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR 68 GOLDEN YEARS
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